Explain the Concept of Open Innovation and Highlight Some of Its

question 93

Essay

Explain the concept of open innovation and highlight some of its benefits and drawbacks.

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Definitions:

Extinction

Extinction, in psychology, is the process through which a conditioned response decreases or disappears as a result of repeated exposure without the unconditioned stimulus.

Conditioned Stimulus

An originally neutral stimulus that, after association with an unconditioned stimulus, comes to trigger a conditioned response.

Conditional Response

An acquired reflex to a stimulus initially neutral, after its frequent association with a stimulus that naturally invokes a response.

Rescorla

An influential figure in psychology known for his work on associative learning and conditioning, particularly the Rescorla-Wagner model of classical conditioning.